Saturna launches new Islamic equity fund in Malaysia

Saturna Sendirian Berhad has unveiled its new Malaysian wholesale equity fund targeting public equities of Islamic-qualified companies in the Asean region.

Denominated in Malaysian ringgit, the new ASEAN Equity Fund will be available to domestic and foreign qualified high-net-worth individuals and institutional investors.

The new fund, which has a low-fee structure, is designed to be aligned with the long-term interests of unit holders.

Saturna said that the fund will be offered without sales charge, low administrative fees and transparent distribution fees.

The fund aims to capitalize on the expected growth resulting from further economic integration within the ASEAN region.

Saturna said that the ASEAN Equity Fund will invest in a diversified portfolio of Shari’ah-compliant equities across the ASEAN region, using a values-based investment approach developed by Saturna Capital’s, chief investment officer Nicholas Kaiser.

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Monem Salam, portfolio manager of the new fund, said: "We believe the ASEAN Equity Fund will first and foremost fill a gap for high-net-worth and institutional Islamic investors in and outside Malaysia. It could also serve as a low-cost vehicle for qualified non-Muslim investors who want to access investment opportunities in the rapidly growing Asean markets.

"An additional attraction for all qualified investors will be the Fund’s performance-based fee structure, which, in line with Shariah practices, makes sure that the management makes money only if investors do," Salam added.